Rise (RISE)





Bitcoin and Rise Correlation

Does Rise depend on Bitcoin? Based on the correlation analysis, BTC and RISE have a strong positive relationship. The correlation coefficient of their values is 0.67, which was estimated based on the last 100-days' price movements of both currencies.

This coefficient may range from -1 to 1, where -1 is the strongest negative correlation, 0 is no correlation at all and 1 is the strongest positive correlation.

The negative coefficient points that the prices of the cryptocurrencies are moving in the opposite direction while the positive coefficient tells that the prices are moving in the identical trend. For example, if Bitcoin and Rise connection is positively strong, it means that when BTC is rising RISE will grow as well. The negative strong relation will point that when BTC is growing RISE price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Rise. If we take all the circumstances affecting the price of RISE as 100%, then the share of BTC price among these factors will be 44.89%. The other part which is 55.11% covers all the other things, such as news, events or crypto related laws.